The bank at end-2024 operated a 388-unit network and held total assets of RON85.9 billion.
At group level, net profit shrank by 8%, to RON1.52 billion, while net banking income rose by 5.2% to RON4.03 billion.
Net interest income, the main pillar of growth, marked an advance of +6.8% YoY during 2024, driven by a robust commercial activity on both retail and corporate segments, tempered by increasing funding costs with customers deposits, yet on a moderated pace following RON market rates trend
Net fees and commissions were up +7.8% YoY, mainly driven by intensified client servicing and lending activity.
Operating expenses were up by 6.8% YoY in 2024, mainly driven by the new tax on turnover.
Staff costs increased by +4.9% YoY compared to 2023.
For 2024, the cumulated contribution to Deposit Guarantee Fund and Resolution Fund was reduced to RON 43.5 million, from RON 68.1 million in 2023. On the reverse, the new 2% tax on turnover, amounted to RON 128.7 million of costs’ increase.
“2024 was again a strong year for BRD that continued to deliver high commercial performance across all its business segments, achieving solid growth in net loans outstanding, + 19% compared to 2023. The corporate segment led the way with a +29% YoY increase, while commercial momentum on retail further intensified up to +13% YoY. Loan origination for individuals remained very dynamic, reaching record levels, totaling almost RON 12 billion, up by 54%, driven by volume growth on both consumer and housing loans. BRD remains highly committed in building a sustainable economy and continues to finance projects and engage in initiatives with positive impact. For 2024, BRD new sustainable financing reachedoverRON 1.8 billion, leading the cumulative production over the last 3 years to almost EUR 1.3 billion, well above the target initially set for end of 2025,” stated Maria Rousseva, CEO of BRD Groupe Société Générale.
Net loans outstanding, including leasing financing, reached RON 49.7 billion, marking a +19.1% YoY increase compared to December 2023 end, fueled by robust lending activity across both corporate and private individuals segments.
Lending to corporates remained the key growth driver, with an yearly advance of +29% YoY, while the momentum on retail segment is further nurtured with +13% YoY increase at December 2024 end.
Individuals’ loan production advanced to new record levels , reaching close to RON 12 billion in 2024, up by +54% YoY vs 2023, building on a good performance for both consumer and housing loans. Consumer loans production totaled RON 7.3 billion, up +49% YoY, while the financing for customers housing acquisition projects increased by +63% YoY, to RON 4.4 billion.
At end of December 2024, individuals’ loans outstanding increased by +12.0% YoY. Additionally, net loans outstanding of small businesses also showed remarkable growth, +25.8% YoY, fueled by improved lending processes and strong engagement in government programs.
The deposit base continued to grow steadily, +8.9% YoY as of December 2024 end. Retail deposits, a key stable funding source, increased by +8.7% YoY, still driven by growing inflows of individuals’ term deposits (+19% YoY). Corporate deposits registered similar growth, +9.1% YoY, mainly supported by higher net inflows from SMEs (+13.4% YoY).
BRD standalone capital adequacy ratio is comfortable, close to 23% as of December 2024 end, excluding the impact of the new regulatory temporary treatments (implemented through art 468 and art 500a of CRR3 in July 2024).
(English version by Catalina Apostoiu)